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HDFC Bank is headquartered in Mumbai. The Bank at present has an enviable network of over 761 branches spread over 327 cities across India. All branches are
linked on an online real-time basis. Customers in over 120 locations are also serviced through Telephone Banking. The Bank's expansion plans take into account the need to have a presence in all major industrial and commercial centres where its corporate customers are located as well as the need to build a strong retail customer base for both deposits and loan products.
Being a clearing/settlement bank to various leading stock exchanges, the Bank has branches in the centres where the NSE/BSE have a strong and active member base.
The Bank also has a network of about over 1977 networked ATMs across these cities. Moreover, HDFC Bank's ATM network can be accessed by all domestic and international Visa/MasterCard, Visa Electron/Maestro, Plus/Cirrus and American Express Credit/Charge cardholders.
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If you intend to buy a car there are lots of options available with launch of new car brands in the Indian market. Going for the right kind of car loan is very important in the case you decide to buy a car on finance. There are lots of factors that play their roles when you decide about a certain car loan. Normally it is better to peg your car loan around 10-15 % of your net income.
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Auto Loan Takeover Plan
If you are a salaried individual holding any of the credit cards mentioned below, your loan gets processed faster.
Requirements:
- Facility is available to only HDFC bank account holders (CASA).
- All terms and conditions applicable for the used car product are applicable for the Loan take over product.
- Minimum 9 month old loan with any approved Financier with clear repayment track record
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Advantage platinum Credit Card Plan
If you are a salaried individual holding any of the credit cards mentioned below, your loan gets processed faster
- HDFC Bank International Credit Card
- Citibank Gold
- HSBC Gold
- ANZ Grindlays Gold
- American Express Gold Card
- American Express Charge Card
- Standard Chartered Gold
Requirements:
- Your card has to be atleast one year old.
- You need to submit the last two billing statements.
- Small cars, normal funding up to three years.
- Funding on premium cars restricted to 70% under this plan.
- The plan does not include multi-utility vehicles
- Contract copy and salary slip of NRI.
- Endorsement on passport for last 3 years.
- Proof of ownership of property
- Post-dated cheques must be from the resident account of the borrower.
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No Income-Document Loan Plan
Now, you can get a car loan without proof of income.
- Under this scheme, you get the loan amount up to 60% of the car invoice value.
- The tenure of loan can be a maximum of 3 years.
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100% Loan Plan with Fixed Deposit Lien
This allows you to take a loan against your deposit at HDFC Bank.
- You can get a loan for 100% of the invoice value amount with the required margin placed as a fixed deposit in HDFC Bank.
- Lien is marked on the specified deposit. Installments can be paid separately or out of the deposit (if deposit is large enough).
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Past re-payment history
- Plan for customers who have taken a car loan and have repaid that loan fully without any outstandings.
- Credit approval on the basis of past re-payment record.
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Fees & Charges for New Car Loans
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| Fees & Charges for New Car Loans |
| Description of charges |
New Car Loans |
Cheque bouncing charges |
Rs. 450 |
FC Charges |
6 % of POS for preclosures within 1 year from 1st EMI
5% of POS for preclosures within 13-24 months from 1st EMI
3% of POS for preclosures post 24 months from 1st EMI
No foreclosure allowed within 6 months from date of availing the car loan |
Stamp Duty |
At actuals |
Late Payment Penalty |
2% per month |
Processing fees |
Upto 2.5 Lacs : Rs.1600/-
2.51 to 4 lacs : Rs.2500/-
> 4 Lacs :Rs. 3000/- |
Agri /PSL Charges |
Rs 2000 |
Cheque swapping charges |
Rs 500/- |
Loan cancellation / re-booking charges |
Rs 1000/- |
Bounce Cheque Charges |
Rs 450/- |
Statement Charges (per statement) |
Rs 500/- |
Duplicate Repayment Schedule charges |
Rs 500/- |
Legal, Repossession & Incidental charges |
At actuals |
Duplicate no due certificate / NOC |
Rs 500/- |
Transaction fees for Suraksha Kavach |
Rs 500/- per case |
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Eligibility & Documentation
Eligibility Criteria
- Minimum age of Applicant: 21 years
- Maximum age of Applicant at loan maturity: 58 years
- Minimum employment: 1 year in current employment and minimum 2 years of employment
- Minimum Annual Income: Rs 100000 net annual income
- Telephone: Must at residence
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Documents required
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- Proof of Identity:- Passport copy, PAN Card, Voters Id car, driving licence( Laminated, Recent, Legible)
- Income Proof:- Latest salary slip with form 16.
- Address Proof:- Ration card/Driving licence/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card.
- Bank Statement:- Not mandatory
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Eligibility Criteria
- Minimum age of Applicant: 21 years
- Maximum age of Applicant at loan maturity: 65 years
- Minimum employment: Atleast 3 years in business
- Minimum Annual Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars
- Telephone: Must at residence
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Documents required
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- Proof of Identity:- Passport copy, PAN Card, Voters Id car, driving licence( Laminated, Recent, Legible)
- Income Proof:- Latest ITR
- Address Proof:- Ration card/Driving licence/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card
- Bank Statement:- Waived for small cars, for mid - sized and premium cars if income Is greater than Rs. 1.5 lacs then bank statement requirement can be waived.
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Eligibility Criteria
- Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p a for mid-sized and premium cars
- Minimum turnover: Turnover Rs 4.5 lacs
- Telephone: One phone at least at business premises
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Documents required
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- Proof of Identity:- NA
- Income Proof:- Audited balance sheet, Profit & Loss Account for latest two years and the latest 2 years IT returns of the company
- Address Proof:- Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate
- Bank Statement:- NA
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Eligibility Criteria
- Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p a for mid-sized and premium cars
- Minimum turnover: Turnover Rs 4.5 lacs
- Telephone: One phone at least at business premises
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Documents required
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- Proof of Identity:- NA
- Income Proof:- Audited balance sheet, Profit & Loss Account for latest two years
- Address Proof:- Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate
- Bank Statement:- NA
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If you intend to buy a car there are lots of options available with launch of new car brands in the Indian market. Going for the right kind of car loan is very important in the case you decide to buy a car on finance.
There are lots of factors that play their roles when you decide about a certain car loan. Normally it is better to peg your car loan around 10-15 % of your net income.
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Features & Benefits
- Choose any car manufactured in India within a certain age*.
- Borrow up to 80% of the value of the car.
- Flexible repayment options, ranging from 12 to 60 months.
- Borrow up to 3 times your annual salary (for salaried professionals) and 6 times your annual income (for self employed professionals)**.
- Available for almost all car models at attractive interest rates.
- Attractive car loan plans - To Fastrack your loan, just choose the plan that is right for you.
- Additional loan on existing loan - If you are a existing HDFC Bank Auto loan customer with a clear track record of 12 months or more, then you can get an additional loan to the extent of your existing loan amount at attractive rate of interest.
- Customer Privileges
- Special benefits for HDFC Bank account holders
- If you have had a Preferred Account or a Corporate Salary Account with HDFC Bank for more than six months, you can get fast approvals on your loans with minimal documentation.
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Fees & Charges for Used Car Loans
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| Fees & Charges for Used Car Loans |
| Description of charges |
Used Car Loans |
Cheque bouncing charges |
Rs. 450 |
FC Charges |
6% of POS for preclosures within 1 year from 1st EMI |
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5% of POS for preclosures within 13-24 months from 1st EMI |
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3% of POS for preclosures post 24 months from 1st EMI |
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No foreclosure allowed within 6 months from date of availing the car loan. |
Stamp Duty |
At actuals |
Late Payment Penalty |
2% per month |
Processing fees |
Rs.1600/- for used cars
Rs.1450/- for car-n-cash |
Agri /PSL Charges |
Rs 2000 |
Cheque swapping charges |
Rs 500/- |
Loan cancellation / re-booking charges |
Rs 1000/- |
Bounce Cheque Charges |
Rs 450/- |
Statement Charges (per statement) |
Rs 500/- |
Duplicate Repayment Schedule charges |
Rs 500/- |
Legal, Repossession & Incidental charges |
At actuals |
Duplicate no due certificate / NOC |
Rs 500/- |
Transaction fees for Suraksha Kavach |
Rs 500/- per case |
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Fastrack your loan with our attractive car loan plans
Credit Card Plan
If you are a salaried Individual / self-employed / proprietor and hold any of the cards mentioned below, your loan request gets processed faster than normal.
- Citibank Gold
- Citibank Diners
- HSBC Gold
- ANZ Grindlays Gold
- American Express Gold Card
- American Express Charge Card
- Standard Chartered Gold
- HDFC Bank International Credit Card
Submit your credit card statements in place of income documents to avail of Used Car Loans
Requirements:
- Your card has to be atleast one year old.
- You need to submit the last two billing statements.
- The plan does not include multi-utility vehicles (Tata vehicles, Mahindra vehicles, etc).
NRI Loans
NRIs can avail of Used Car Loans from HDFC Bank, for use of the vehicles by their relatives in India. Additional documents required are as follows:
- Contract copy and salary slip of NRI.
- Endorsement on passport for last 3 years.
- Proof of ownership of property.
- Post-dated cheques must be from the resident account of the borrower.
No Income-Document Loan Plan
Now, you can get a car loan without proof of income.
- Under this scheme, you can get the loan amoun upto 65% for 3 years and upto 60% for 5 years on the value of the car.
- Endorsement on passport for last 3 years.
- Proof of ownership of property.
- Post-dated cheques must be from the resident account of the borrower.
90% Loan Plan with Fixed Deposit Lien
This allows you to take a loan against your deposit at HDFC Bank.
- You can get a loan for 95% of the valuation of the used car with the required margin placed as a Fixed deposit in HDFC Bank.
- Lien is marked on the specified deposit. Installments can be paid through Standing Instructions/ PDC's/ ECS.
- Fixed deposit should cover at least 50% of the loan amount.
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Eligibility & Documentation
Eligibility Criteria
- Minimum age of Applicant: 21 years
- Maximum age of Applicant at loan maturity: 60 years
- Minimum employment: 1 year in current employment and minimum 2 years of employment
- Gross household income i.e. including income of the spouse: Rs 100000 net annual income
- Telephone: Necessary at residence
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Documents required
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- Age Proof: Any one of Passport copy, PAN Card, Voters ID card, Photo driving licence with birth date ( laminated, recent , legible), Photo ration card with DOB, Employer certificate/ID, School/College Leaving certificate.
- Proof of Identity: Any one of Passport copy, PAN Card, Voters ID card, Photo driving licence with birth date, Photo ration card with DOB.
- Income Proof: Latest salary slip with latest form 16/latest ITR. HDFC bank corporate salary account statement for salary credits of above Rs 8000 for three months.
- Address Proof: Any one of Photo Ration card with DOB, Photo Driving licence with DOB, Passport copy, Telephone bill, Electricity bill, Credit Card statement with credit card copy, Employer certificate/ID.
- Sign Verification Proof: Any one of Passport copy, Photo driving licence with birth date ( laminated, recent , legible), Credit Card statement with credit card copy, Banker's verification, Copy of margin money paid to bank.
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Eligibility Criteria
- Minimum age of Applicant : 21 years
- Maximum age of Applicant at loan maturity : 65 years
- Minimum employment : Atleast 3 years in business
- Minimum Annual Income : 60000
- Telephone: Necessary at residence
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Documents required
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- Age Proof: Any one of Passport copy, PAN Card, Voters ID card, Photo driving licence with birth date ( laminated, recent , legible), Photo ration card with DOB, Employer certificate/ID, School/College Leaving certificate.
- Proof of Identity: Any one of Passport copy, PAN Card, Voters ID card, Photo driving licence with birth date ( laminated, recent , legible), Photo ration card with DOB.
- Income Proof: Latest ITR / Previous ITR with Adv. Tax paid challan / latest IT asessment order.
- Address Proof: Any one of Photo Ration card with DOB, Photo Driving licence with DOB, Passport copy, Telephone bill, Electricity bill, Credit Card statement with credit card copy, Employer certificate/ID.
- Sign Verification Proof: Any one of Passport copy, Photo driving licence with birth date (laminated, recent , legible), Credit Card statement with credit card copy, Banker's verification, Copy of margin money paid to bank.
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Eligibility Criteria
- Minimum Income : Rs. 60000 p.a.
- Telephone: Landline at office
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Documents required
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- Age Proof: Memorandum and Articles of Association / Certificate of incorporation.
- Proof of Identity: Memorandum and Articles of Association / Certificate of incorporation.
- Income Proof: Latest ITR and latest audited Balance Sheet along with Profit and Loss Account.
- Address Proof: Memorandum and Articles of Association / Certificate of incorporation or any of Telephone Bill, Electricity Bill.
- Sign Verification Proof: Any one of Passport copy, Photo driving licence with birth date (laminated, recent , legible), Credit Card statement with credit card copy, Banker's verification, Copy of margin money paid to bank.
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Eligibility Criteria
- Minimum Income : 60000 p.a.
- Telephone: Landline at office
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Documents required
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- Age Proof: Memorandum and Articles of Association / Certificate of incorporation.
- Proof of Identity: Memorandum and Articles of Association / Certificate of incorporation.
- Income Proof: Latest ITR and latest audited Balance Sheet along with Profit and Loss Account.
- Address Proof: Memorandum and Articles of Association / Certificate of incorporation or any of Telephone Bill, Electricity Bill.
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Sign Verification Proof: Any one of Passport copy, Photo driving licence with birth date (laminated, recent , legible), Credit Card statement with credit card copy, Banker's verification, Copy of margin money paid to bank.
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